Author: NBTC

Today, enjoy the Lightspeed newsletter on Blockworks.co. Tomorrow, get the news delivered directly to your inbox. Subscribe to the Lightspeed newsletter. Howdy! Last night, I attended my first ever New York Liberty game, and goodness me, were we ever up in the nosebleeds. But even from my perch in the rafters, it was clear that Sabrina Ionescu is a bucket. Caitlin Clark who? Anyways: In search of Solana games I tried ginning up some newsletter content by becoming a Solana gamer. Unfortunately, my journey was stalled by a lack of, well, games. As crypto settles into a collective spirit of…

Germany moved about $500 million of bitcoin to crpyto exchanges. The bitcoin price fell to as low as $55,000 before recovering. Bitcoin (BTC) fell on Monday afternoon in Europe as the German government moved another $500 million of assets, blockchain data shows. According to blockchain trading platform Arkham Intelligence, a Bitcoin address tagged as belonging to the German government moved 8,700 BTC to an intermediate wallet before transferring assets to crypto exchanges Bitstamp, Kraken and Coinbase and market maker Flow Traders. Bitcoin’s price dropped 3% to as low as $55,000 shortly after the blockchain transactions. Later, it rebounded to slightly…

Neo has announced a strategic partnership with ZNS Connect to leverage the emerging Neo X sidechain for exploring the vast potential of Web3 identities. This collaboration marks a crucial step in simplifying user interactions within the decentralized space by integrating ZNS Connect’s decentralized naming system directly into the Neo X infrastructure. The partnership aims to enhance the Web3 user experience by providing intuitive, user-friendly domain names that facilitate easier navigation and interaction across various decentralized applications. This integration represents a key advancement in making blockchain technology more accessible and practical for everyday use, promoting wider adoption. Introducing .neox Domains on…

Taiwan’s highest legislative body, the Legislative Yuan, has officially passed a law amending the country’s Anti-Money Laundering (AML) legislation to include digital assets. The law now requires virtual asset service providers (VASPs) in the region to adhere to AML policies. According to reports, firms seeking to offer virtual asset services or third-party payment services in Taiwan must establish an AML system and report their capacity. Additionally, those who fail to comply with the amended rules face hefty fines. Non-compliance with the new laws could result in prison sentences of up to two years and fines up to 5 million New…

The price of Bitcoin (BTC) dropped over 5% today to a low of $54,800 before rebounding slightly above $56,400. This rollercoaster price action caused a cascade of liquidations worth $416.64 million. Interestingly, $206.49 million were long positions, while $210.15 million were bearish. This just goes to show that the market is no respecter of persons, and that traders who are not cautious enough will be wiped out either way. In the midst of this, Robert Kiyosaki, author of “Rich Dad Poor Dad” and a Bitcoin advocate, shared an important perspective. He emphasized that money should be seen as a tool,…

Andreas Brekken, founder of SideShift.ai, recently shared his insights on the emerging Runes Protocol and its implications for the Bitcoin ecosystem. Crypto.news received exclusive comments via email on Brekken’s views about the Runes Protocol, which gained hype and popularity during the recent Bitcoin Halving. The Runes Protocol, which utilizes the Bitcoin UTXO model without adding a secondary fee token, offers a streamlined approach to token standards that could improve transaction efficiency and lower costs. “The Runes standard improves on previous models by sticking to Bitcoin’s UTXO model and not adding a secondary fee token,” said Brekken. This approach allows for…

Hong Kong’s regulators published the conclusions from their consultation on a stablecoin regime. The next step is to prepare a bill for the Legislative Council. Hong Kong’s financial regulators said they plan to present a bill on fiat-referenced stablecoins to the Legislative Council later this year. The Financial Services and the Treasury Bureau (FSTB) and the Hong Kong Monetary Authority (HKMA) published the results of a consultation, and concluded that the stablecoin regime would “primarily focus on representations of value which rest on ledgers that are operated in a decentralised manner” in which “no person has the unilateral authority to…

While Bitcoin has been exhibiting sudden rise and fall movements in recent days, options traders expect downward pressure to continue amid its recent correction. According to The Block, ETC Group analysts, citing Deribit data, said that there was an increase in the selling positions of option investors. According to analysts, this indicates that option traders are looking for protection against further declines following the recent correction in BTC. Analysts stated that the buy-sell ratio for Bitcoin option open positions rose above 1 before the weekly expiration date on July 12, indicating a bearish market. “The put-call ratio for bitcoin options…

Howdy! A member of the Kardashian orbit is on a social media blitz to promote her Solana memecoin, and it’s not even big enough news to justify running as today’s lead news item. It’s a bull market for cryptos — and for interesting things to write about in newsletters. Solana validators take aim at side deals On Monday, Solana validators voted in favor of a proposal that would send 100% of priority fees to validators, a change from the status quo of sending half and burning half. The rationale for such a move was partly that these priority fees —…

The Financial Conduct Authority (FCA) has significantly expanded its cryptocurrency workforce to over 100 staff members, yet its policy team remains understaffed, according to data obtained by blockchain finance provider Quant through a Freedom of Information request. The FCA now employs 109 staff dedicated to crypto assets, a huge increase from just 9 in 2019. However, only 18 of these employees work in the policy department, responsible for drafting and implementing market regulations. The data reveals that most of the FCA’s crypto workforce is split between authorization (31 staff) and supervision (31 staff), focusing on granting regulatory permissions and monitoring…